Tag: hyperinflation

Utopia 24: First Day of School


And I  say the sacred hoop of my people was one of the many hoops that made  one circle, wide as daylight and as starlight, and in the center grew  one mighty flowering tree to shelter all the children of one mother and  one father.

Black  Elk

Stoneleigh’s take on Obama.

I personally find it difficult to restrain my criticism of Obama, as he appears to be a recidivist lickspittle to the plutocracy, completely unfit for duty to the nation, the most non-hopiest, non-change-iest fucker ever born.  Nevertheless, I found these admittedly grim comments by Stoneleigh on Obama’s “historical context” worth taking into account, as well.

Replying to Erltonsquire (first quote, all emphases mine), she writes:

Erltonsquire,

I don’t want America’s first black president to be blamed for the next depression. He means too much as a symbol.

I don’t want to see that happen either, as the consequences for racial harmony could be catastrophic. Unfortunately, however, circumstance dictates that is exactly what will happen. Anyone elected at such a time takes the blame, whether or not it can plausibly be construed as his fault. Look what happened to Hoover’s reputation.

The two candidates at the last election were fighting over the poisoned chalice. I think it’s very unfortunate that Mr Obama won at this particular time and is now in the line of fire. I actually feel very sorry for him and especially his family. I don’t think he has any idea what is about to hit him politically. Unfortunately he encouraged people to believe he had the power to change things, which he doesn’t. It is very dangerous for politicians to believe their own propaganda and willingly step up on to a pedestal. It just means they have further to fall.

Whatever one may think of current events, it actually makes little sense to focus on blaming the president, as his actions are so constrained, and events are so dependent on long term socieconomic moves that precede his term. The system is larger than any man and it is simply broken. A blame game won’t help anyone. Sadly nastier and nastier blame-games are exactly what increasingly angry people engage in in such times. I always suggest that people save their energies for more constructive purposes that can actually benefit their loved ones.

Mr Obama is in the wrong place at the wrong time. All he can do is cheerlead while presiding over a sclerotic and dysfunctional system that is completely unresponsive to the needs of the populace. Such a system can no longer do anything constructive. Sadly the destructive power that remains is still being deployed, and probably will continue to be so on a wider and wider scale. Tragically, this will be Mr Obama’s legacy, whatever he personally does or does not do.

June 1, 2010 8:24 AM

Hard to gainsay much of anything said above, and what a mouthful!  I do think Stoneleigh’s acuteness reaches its vanishing when she says,

I always suggest that people save their energies for more constructive purposes that can actually benefit their loved ones.

One last question: Can Wall Street create catastrophe bonds for politicians?  Because I want in!

Dystopia 10: The Desert


The Bene Gesserit Littainy against Fear.

I must not fear.

Fear is the mind-killer.

Fear is the little-death that brings total obliteration.

I will face my fear.

I will permit it to pass over me and through me.

And when it has gone past I will turn the inner eye to see its path.

Where the fear has gone there will be nothing.

Only I will remain.

The Bail-Out and The Two Paths Ahead for the US Economy

Here at Docudharma yesterday’s diary on The Magic of Default Swaps: You Too can be an Insurance Company, cassiodorus says:

Dollar hegemony, however, can only prevent a general contagion of dollars up to a point.  What that point is, however, is a mystery. … Thus hyperinflation and currency crash.

As I see it, there are two paths ahead.

(1) A crash program of investment in sustainable energy production and energy efficiency in transport, housing and farming, leveraging the exporters-exchange-rate the US$ will be seeing into a central position in the growth industries of the 21st century … or …

(2) We try to continue on the same unsustainable course, and have a hyperinflation.

Background, more detail and analysis beyond the fold.